My Top 5 Financial Regrets at 35

Education
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My Top 5 Financial Regrets at 35: Lessons from the Road

By Insider Pace

Hi there, I’m David. I’ve spent the past decade working as a driver in a foreign country, navigating everything from busy city streets to winding rural roads. Along the way, I’ve learned a lot—not just about how to avoid potholes, but about financial pitfalls too. As I reflect on my journey at 35, I’ve realized there are a few key financial regrets I wish I’d addressed sooner. Here’s a rundown of the top five mistakes I made and what I’ve learned from them.

  1. Ignoring Retirement Savings

When I first started working abroad, retirement seemed like a distant concern. I was more focused on making ends meet and enjoying the present. However, as the years went by, I realized I’d neglected one of the most critical aspects of personal finance: saving for retirement. I didn’t set up a dedicated retirement fund, and as a result, I missed out on years of compound growth. If I could go back, I’d make sure to prioritize retirement savings from day one. It’s never too late to start, but the earlier you begin, the better.

  1. Not Building an Emergency Fund

Another significant regret is not having an emergency fund. As a driver, I’ve faced unexpected expenses like car repairs and medical bills. Having a financial cushion would have made those situations less stressful and more manageable. I always thought I’d just deal with emergencies as they came, but having a dedicated fund would have given me peace of mind and financial stability.

  1. Living Beyond My Means

In my early years abroad, I was often tempted to live a lifestyle that was beyond my means. Whether it was dining out frequently, upgrading my phone every year, or going on expensive vacations, I didn’t always manage my spending wisely. I’ve learned that living within your means is crucial for long-term financial health. It’s important to budget and prioritize your expenses, even if it means saying no to some immediate pleasures.

  1. Failing to Invest Wisely

When it comes to investing, I was pretty clueless. I didn’t take the time to educate myself about different investment options and ended up missing out on opportunities to grow my wealth. Instead of investing in stocks, mutual funds, or real estate, I kept my money in a basic savings account with minimal interest. Investing wisely could have significantly increased my financial security. Now, I’m working to educate myself and make smarter investment decisions.

  1. Not Tracking My Expenses

One of the simplest yet most impactful mistakes I made was not tracking my expenses. It’s easy to lose track of where your money goes when you don’t keep an eye on your spending. By not monitoring my expenses, I ended up overspending on things that didn’t really matter. Nowadays, I use budgeting apps and keep detailed records to ensure I’m aware of my financial habits and can make adjustments as needed.

Moving Forward

Reflecting on these regrets, I realize they’ve taught me invaluable lessons about financial responsibility. I’ve started making changes to address these mistakes: setting up a retirement fund, building an emergency fund, budgeting carefully, educating myself about investments, and tracking my expenses. It’s never too late to take control of your finances, and even small changes can lead to significant improvements over time.

If you’re reading this and can relate to any of my regrets, I hope my experiences can help you avoid similar pitfalls. Financial health is a journey, and every step you take towards better management is a step in the right direction. Safe travels on your own financial journey!

By Insider Pace

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Common sense. Lacking it is not regrets, it will happen again

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My biggest regret was too much partying in my 20s. I should have kept my head down and grinded like a mad man back then when opportunities abound. Luckily I still emerged with something but its just a fraction of what I should have had by now. I’m behind my schedule by at least 5 years despite being decades ahead of my agemates (32 years).

Compound interest is a bitch if you waste your youth. The opportunity cost of wasting time and money in your 20s is unfathomable if you factor in compound interest. You’d better waste your 50s but not your 20s. I’d be in Muthaiga before 40 goddammit.

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Gaines, unaweza tuambia exactly how you spend your millions, we won’t judge, unaeza okolea upcoming millionnaires

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How exactly will spending data “okolea” anyone?? Si earning ndio muhimu.

Also, we all know Kenyatalk riff raffs. Whatever you say will certainly be used against you. Kusema you wont judge is an empty promise.

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Riff raffs na wewe ni mmoja wao?

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Yeah…and it takes one to know one.

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Hehe, sawa sawa.

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Going to the sun might be easier than @Gaines sharing. Tangu afinye KDF videvu ako na kiburi mingi. Labda umshikie pilsna kadhaa anafungua Roho. Lakini uchunge asikufungue kabaat.

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i need comments from entrepreneurs

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The Duke of Kabeteshire doesn’t make such stupid mistakes. My only advice is for you to stack $100k. Once you obtain the first $100k, it’ll take you half the time to reach $200k. Once you do that, it’ll take you a quarter the time to reach $300k. Compounding magic if done right is a mighty money printer.

Too bad I have a terrible reputation here so my words mean nothing. For those who listen though, hang on tight and make your first $100k by whatever means possible. It gets easier in the end. Trust me.

Cue in brothers in arms by Dire Straits. Exiting stage left. Peace padres and hombres.

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You have only one life to live. Piga sherehe mpaka Ile siku utadie

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Life begins at 40. Don’t worry be happy.

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The more you live the more resilient you become.

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True. The only people who regret sherehe ni wenye wanaspend above their means. Kwa hivyo sherehe inawacost their financial future. Ukiishi within your means na uweke budget ya sherehe you will never regret juu utakuwa unamake progress even after sherehe. Hii maneno ni kujielewa na kucheza kulingana na mfuko yako.

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Many people don’t realize hautakufa kama hauta afford starehe zingine. Unapata omwami anafuatana na mabeshte kama 5 alafu Wana changisha mzinga 4 za 6k pale quiver. Kila mtu anatoa 5k Kwa bill na msee Ako na 7k mbele nyuma na mwezi Iko tenth. Anabakisha 2k. Ana Anza kunywa strungi na sembe for breakfast, lunch na supper for 25 days mpaka payday. Meffi sana

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Hakuna makosa kukunywa hata blue label ya 30k na kudinya sociolites wa 10k for the weekend kama income yako inakubali. Makosa hufanyika mtu akijiweka class yenye hako. Mtu ako na kampunj inampea 3M per month hatafeel sherehe ya 50k kila weekend. Hiyo same sherehe ni financial knockout kwa msee wa 150k.

Mambo ya watu kutoamini hautakufa usipoafford sherehe zingine it is true. Lakini hufai kukubali that hauta-afford hizo sherehe permanently juu ukifanya hivyo utalose hope ya maisha poa. Unafaa uishi on your budget ukijua plan zako zinakupandizha social class pole pole so eventually utafika hiyo level with delayed gratification.

Hata wewe ukidinya lanye wa 150 unafaa ujiambie hutadinya lanye chafu for life. It is a temporary sacrifice for a bigger goal. Unazidinya for now ukijipanga ndivyo usoni uweze kupiga sherehe bila stress ya pesa. Ukijipata bado unadinya lanye wachafu na kukunywa konyagi Calabash 2030 then you have lost hope in life. Inafaa kuwa temporary sacrifice for a bigger goal in future sio your permanent station in life.

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Hanging out with rich people will never make you rich. The only way to be rich is changing your mentality first. Drinks expensive utalewa the same. Pussy ya 3k ni same na ya 150. Sealing the big deals is just selling your self to investors or buyers who are willing to pay billions and get value of their money. Hapo ni where many people who want kuomoka fail.

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Wazungu husema rich people eat caviar but eating caviar wont make you rich. My point is that sacrifice yako ya kukunywa konyagi na kutomba lanye wa 150 should be temporary. Kama vile mtu husema umeacha anasa X hadi umalize kujenga etc. Ikikuwa permanent unakuwa one of those hopeless people in life.